23/04/2025

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BIZ & FINANCE WEDNESDAY | APR 23, 2025

SC kicks off third cohort of syariah mentorship scheme The Securities Commission Malaysia (SC) yesterday commenced the third cohort of its Syariah Mentorship Programme (SMP), aimed at nurturing a new generation of syariah professionals in the Islamic capital market (ICM). The event also celebrated 15 graduates of the second cohort of SMP, marking a significant step in the SC’s efforts to strengthen syariah talent development and governance in the ICM. The SMP, funded by the Capital Market Development Fund (CMDF), was introduced by the SC in 2023. The mentorship initiative is run by ISRA Consulting, wholly owned by INCEIF University. The programme combines practical knowledge, industry exposure, and mentorship by members of the SC’s Syariah Advisory Council. Each cohort goes through an eight month programme which includes three months of intensive classroom sessions, followed by five months of industry placements to gain hands-on experience in Syariah advisory within Islamic finance. SC chairman Datuk Mohammad Faiz Azmi said SMP, one of the initiatives under the Capital Market Masterplan 3, will help nurture a sustainable Shariah talent pipeline and build industry capacity. “Through a structured approach, SMP also aims to support the broader objectives of Maqasid al-Syariah by fostering values of integrity, ethics and sound judgement,” he said. “These are essential for syariah advisory roles in order to serve the greater good of the market and society.” “SC is also looking at the whole ecosystem beyond syariah professionals to developing the next generation of syariah scholars and the scope of their work, in order to solidify SC’s leadership in this area.” To date, the SMP has produced 30 alumni where more than 70% of whom are now serving in various Islamic finance institutions. It is anticipated that the alumni will be registered as syariah advisers with the SC in the next five years. KUALA LUMPUR:

M’sian palm oil stocks rise in March after six months of falls

Sarawak. These efforts are aligned with and supportive of the state government’s ongoing commitment to improving internet coverage and digital connectivity, especially in underserved and rural communities.” Under the listing exercise, Reach Ten aims to raise RM104 million from the public issue of 200 million new shares at an issue price of RM0.52 per share. M&A Securities Sdn Bhd is the principal adviser, underwriter and placement agent for the IPO exercise. Reach Ten designs, builds, owns and operates the fibre optic communication networks and services in Kuching and Samarahan, Sarawak. – Bernama In coming weeks, it added palm oil prices are expected to remain supported at RM3,900. “This stability is underpinned by the recovery in soybean oil prices, which enhances palm oil’s price competitiveness. The ongoing decline in palm oil production in Sabah remains a concern and is likely to limit any significant production recovery in the coming months. Despite these supportive factors, a strong rally in vegetable oil prices is unlikely, as escalating trade conflicts and soft crude oil prices imply higher risk and price volatility,” said MPOC. tinue rising from April onwards, it said the build-up will be moderate, capped by weak year-on-year production growth, particularly in Sabah. Palm oil production in Sabah declined by 10% from January to March 2025, reaching its lowest level in five years. This production shortfall will limit inventory accumulation and help support palm oil prices.

Managing director Leo Chin said that with the successful completion of its IPO and the funds now secured, the company is well-positioned to move forward with plans to expand its telecommunications infrastructure in Sarawak, while also focusing on strengthening and scaling up its overall business operations. “The proceeds from the IPO will provide us with the necessary financial resources to significantly accelerate our expansion initiatives, particularly in establishing and enhancing our fibre optic network infrastructure,” he said. “In addition, we plan to construct an extra 100 4G and/or 5G telecommunication towers across various parts of Soybean oil prices on the CBOT exchange have been hovering above 42 cents per pound (equivalent to US$920 per tonne), despite bearish sentiment in the US market. Following the recent removal of tax credit for both canola oil and imported used cooking oil from the US biodiesel supply chain, the feedstock shortfall is expected to be filled by increased demand for tallow and soybean oil. This suggests that global soybean oil prices may have bottomed out and are poised for a strong recovery once US biofuel policy becomes clearer in the months to come, MPOC said. Although palm oil stocks in Malaysia are expected to con- capitalise on the current low palm oil prices to replenish its depleted inventories, as the price gap between palm oil and soybean oil has narrowed in the domestic market,” said MPOC in a statement.

o Commodity has regained its price competitiveness against other soft oils, says MPOC

KUALA LUMPUR: Malaysian palm oil stocks increased in March 2025 after six consecutive months of decline, rising to 1.56 million tonnes, said Malaysian Palm Oil Council (MPOC) yesterday. It said that the increase was driven by a 16.8% month-on month rise in palm oil pro duction, following delayed harvests in February caused by heavy rainfall and flooding. Despite the recovery in March, it added cumulative production for the first quarter of 2025 remains the lowest in three years and year-on-year production declines are likely to persist until September. telecommunications firm Reach Ten Holdings Bhd’s initial public offering (IPO) has been oversubscribed by 1.85 times, ahead of its scheduled listing on the Main Market of Bursa Malaysia on May 2. The company said in a statement yesterday that it received a total of 2,706 applications for 142.65 million new shares, exceeding the 50 million shares allocated for public subscription. “The Bumiputera portion of the shares was oversubscribed by 1.11 times, with 945 applications for 52.79 million shares. “Meanwhile, the non

As a result, total palm oil production in 2025 could fall to around 19 million tonnes, below the 19.3 million tonnes recorded in 2024. “Palm oil has recently regained its price competitiveness against the soft oils, after trading at a premium in the global market since August 2024. At RM3,900 per tonne, palm oil is now considered reasonably priced. As a result, China is projected to increase its palm oil imports in May and June to replenish inventories, coinciding with the onset of the summer season, which typically sees higher palm oil consumption in the country. Similarly, India is expected to Bumiputera portion saw 1,761 applications for 89.86 million shares, representing an oversubscription rate of 2.59 times,” Reach Ten said. The company also stated that the 25 million new shares allocated for its eligible directors, employees, and individuals who have contributed to its success under the pink form allocations have been fully subscribed. “In addition, its placement agent has confirmed that 225 million shares made available for application by way of private placement to Bumiputera investors approved by the Ministry of Investment Trade and Industry and selected investors have been fully placed out,” it said.

Public portion of Reach Ten IPO oversubscribed 1.85 times KUALA LUMPUR: The public portion of Sarawak-based

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